Technology Business Finance Program (TBFP)

Providing financing for high-tech companies that are just starting out

The first step is always the hardest – especially when it comes to financing a new business. That's why the OCAST Technology Business Finance Program, or TBFP, provides Oklahoma tech start-up companies with pre-seed financing and early-stage risk capital to stimulate investments from private sources.

TBFP is administered through a contract with a private not-for-profit company called i2E Inc. With awards ranging up to $100,000, the program has a unique payback feature. Paybacks are generally triggered by pre-negotiated and pre-determined events that mark major milestones in the companies' success, such as sales of products/services, licensing agreements, sales of patents, mergers or acquisitions or subsequent infusions of investment capital. The paybacks are then rolled back into the program for future awards.

To participate in the program:

Applicants must be in the process of commercializing advanced technology, defined as a state-of-the-art, proprietary product, process, material, design and/or know-how.

Firms must be technology-based, sufficiently innovative to provide a competitive advantage in the marketplace and have the potential for significant, high-performance growth. They must also exhibit significant potential for high sales per employee, substantial value added per employee, wage levels 35-40 percent higher than average, and other indicators related to the generation of wealth for Oklahoma's economy.

Firms must be located in, or must have relocated to, and be primarily domiciled in Oklahoma prior to the receipt of program funds.

Eligible firms must leverage $1 of other resources for every $1 of financial assistance requested from the program. A minimum of $1 of every $1 in matching funds must be in cash.